Nasdaq 100 (NAS100) Continues To Drift Lower
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Nasdaq 100 (NAS100) Continues To Drift Lower

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Azeez Mustapha

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Market Analysis – August 14

Nasdaq 100 (NAS100) continues to drift lower as the bears keep getting stronger. The sellers are attempting to reverse the previous bullish trend that persisted for quite some time. This negative trend started at the beginning of this month.

The bears are still causing an impact. They have managed to interrupt the long-term bullish momentum that has been ongoing. On the other hand, the bulls emerged stronger starting in March this year. They started renewing strength above the 11865.70 level and continued to build on that as price liquidity soared.

Nasdaq 100 (NAS100) Key Levels

Resistance Levels: 15848.90, 15272.50
Support Levels: 12712.70, 11865.70

Nasdaq 100 (NAS100) Continues To Drift Lower

Nasdaq 100 (NAS100) Long-Term Trend: Bearish

In June, the bulls successfully broke through the key level of 14204.50. Following a short consolidation period in July, the NAS100 went on to surpass the key zone of 15272.50. The buyers extended their strength, reaching as high as the 15848.00 level, but failed to break through.

Consequently, the bears have shifted the direction of the price trajectory. This could potentially last for days. A significant level to take note of is the 14662.20 key zone. It could play a crucial role in determining future price action in the market.

If the sellers eventually lose their grip, the buyers might make a comeback. So traders should pay close attention to this level. However, at the moment, the sellers are still taking the drift lower in the market. Both the Parabolic SAR (Stop and Reverse) indicator and the Chiakin Money Flow indicator are signaling a bearish direction.

Nasdaq 100 (NAS100) Continues To Drift Lower

Nasdaq 100 (NAS100) Short-Term Trend: Bearish

As things stand, the sellers are keeping tabs on the momentum of the bears. They have been consistent in maintaining the downward trend. As this trend continues to strengthen, the price will likely reach the 14662.20 market level.

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